ACS Clothing, an independent supplier of formal hirewear, received an £8.5m investment from Business Growth Fund.
BGF, which invested in ACS Clothing and its software business Xedo, took a minority stake in both businesses with its Regional Director for Scotland, Simon Munro, joining the boards.
The company intends to use the funds to expand its operations including Xedo’s SortMyWeddingOutfit website where all members of the bridal party can find a solution to every aspect of the wedding day no matter where they are located.
Established in Glasgow in 1997 by Richard Freedman and his father, Joseph, ACS Clothing supplies formal hirewear and has exclusive supplier agreements with retailers including Debenhams, Austin Reed, Greenwoods, Slaters Menswear and Burton as well as its own brand Cameron Ross.
The Xedo Software business provides a range of software products to the hire and wedding industries including a retail order management system that connects ACS Clothing and Xedo customers direct to its inventory, providing electronic ordering of hirewear.
The company, which acquired Blackburn-based, Etiquette Formal Hire in April 2011, currently employs around 100 people.